Favara‑UPI Corridor Goes Live Between Maldives and India, Enables Real‑Time Transfers
The Maldives Monetary Authority (MMA) has announced the successful go‑live of the Favara‑UPI cross‑border payment corridor, enabling individuals in the Maldives to transfer funds in real time to UPI‑enabled bank accounts in India. The service, launched on July 30, reflects close collaboration between the MMA, Reserve Bank of India (RBI), NPCI International Payments Limited (NIPL), and … Read more